Hong Kong Investment Corporation Limited

Introduction

The Hong Kong Investment Corporation Limited (HKIC) is wholly owned by the Government of the Hong Kong Special Administrative Region. The HKIC consolidates the management of the investment activities of the “Hong Kong Growth Portfolio”, “Greater Bay Area Investment Fund”, “Strategic Tech Fund”, and the newly established “Co-Investment Fund”. The objectives of the HKIC are to identify investment opportunities and strategically promote development of target industries, so as to enhance the long-term competitiveness and economic vitality of Hong Kong while generating investment return. In this regard, it pools together relevant resources under the steer of the Government to attract and support foreign and local enterprises to further develop Hong Kong.

Background

In the 2022 Policy Address, the Chief Executive of the HKSAR announced the establishment of HKIC to further optimize the use of financial reserves for promoting the development of industries and the economy. In this regard, the HKIC is established to manage the investment activities of the Hong Kong Growth Portfolio, the Greater Bay Area Investment Fund and the Strategic Tech Fund, as well as the newly established Co-Investment Fund, for attracting and supporting enterprises to develop their business in Hong Kong.

Hong Kong Growth Portfolio

In the 2020-21 Budget Speech, the Financial Secretary announced that he would establish a new portfolio, named “Hong Kong Growth Portfolio”, to make strategic investments in projects with a Hong Kong nexus. And in the 2022-23 Budget Speech, the Financial Secretary announced that he will increase the funding allocated to the existing target size of HK$22 billion “Hong Kong Growth Portfolio” by HK$10 billion, of which HK$5 billion will be used to set up the “Strategic Tech Fund”. As for the remaining HK$5 billion, it will be used to set up a “Greater Bay Area Investment Fund”, which will focus on investment opportunities in the Greater Bay Area.

Co-Investment Fund

It was announced in the Chief Executive’s 2022 Policy Address that the Government will establish the HK$30 billion “Co-Investment Fund” for attracting enterprises to set up operations in Hong Kong and investing in their business.

Governance

The composition of the Board of Directors of the HKIC is as follows:

Chairman :

Financial Secretary

Members :

Deputy Financial Secretary
Secretary for Financial Services and the Treasury
Secretary for Innovation, Technology and Industry
Secretary for Commerce and Economic Development
Chief Executive, Hong Kong Monetary Authority
Deputy Chief Executive, Hong Kong Monetary Authority
Chief Executive Officer, Hong Kong Investment Corporation
Dr Victor Fung
Professor Lawrence Lau
Dr James Lin
Mr Carlson Tong

For More Information

For more information on the establishment of the HKIC, please visit the following websites/ linked documents:

Relevant background information

The Chief Executive’s 2022 Policy Address – Further Improve Governance
https://www.policyaddress.gov.hk/2022/public/pdf/measure/Policy-Measures-03-en.pdf
2022-23 Budget– Developing Industries
https://www.budget.gov.hk/2022/eng/re.html
The 2020-21 Budget Speech – Future Fund
https://www.budget.gov.hk/2020/eng/budget35.html
Blog – Financial Secretary: “Better integration of a capable government and an efficient market”
https://www.fso.gov.hk/eng/blog/blog20221023.htm

Relevant press releases

Appointment of Chief Executive Officer of the Hong Kong Investment Corporation Limited (October 2023)
https://www.hkic.org.hk/ceo_appointment
First meeting of Board of Directors of Hong Kong Investment Corporation Limited Held (February 2023)
https://www.info.gov.hk/gia/general/202302/28/P2023022800691.htm
Government announces Board of Directors of Hong Kong Investment Corporation Limited (February 2023)
https://www.info.gov.hk/gia/general/202302/15/P2023021500709.htm

The HKIC webpage is still under development and further information will be provided at a later stage.